RP investors upbeat on Apple Inc.; PSE index up 13 pts

Local investors were upbeat Wednesday as the Dow Jones Industrial Average rose 75 points overnight, boosted by Apple Inc.'s 78-percent surge in fiscal third-quarter profit ending June. The Philippine Stock Exchange index closed at 3,418.71, up by 13.02 points or 0.38 percent. Around 1.823 billion stocks were traded, valued at P3.862 billion. Advancers led decliners 61 to 38, with 69 issues unchanged. Investors were full of optimism over the strong US corporate earnings results, AB Capital Securities Inc. said. Apple posted a surge in its third-quarter performance with costumers buying the iPad tablet computer and the latest iPhone version, a rebound in US consumer spending. "Investors were being driven more by the positive sentiments emanating from abroad," the AB Capital said. "Downside could be capped by bargain hunters, who are positioning ahead of the release of second-quarter corporate earnings results (from the Philippines)," AB Capital pointed out. —JE/VS, GMANews.TV